Canada posted a record decline in retail sales amid the COVID-19 shut down in March, with sales plunging more than 10 per cent nationally. And the numbers are expected to be even worse for April.
Statistics Canada released the figures on Friday morning and estimated that April could see a 16 per cent decline in sales, setting another record.
Not every sector was impacted negatively, however.
The cannabis industry saw soaring sales in March, with retail bringing in more than $180 million, a 20 per cent increase from the previous month. And while some are suggesting cannabis sales have plateaued as a result of consumers stocking up, it’s hard to consider the numbers anything but a good sign for the nascent industry.
Ontario led the way, posting more than $47 million in sales despite having fewer than 100 retail stores. Alberta, which has more than 400 stores, brought in $40 million, the second-highest amount.
The biggest jump occurred in Quebec, which saw sales increase from $29 million in February to $37 million in March, a 27 per cent hike.
Cannabis retail sales figures in March 2019 were $60 million. At that time there were 219 retail stores open across Canada. Currently, there are around 800 stores up and running, with hundreds more on the way, including more than 300 in Ontario alone.